Lowe’s Companies NYSE: LOW Weekly Stock Chart
Let’s also take a look at an individual stock that moved significantly of late.
Lowe’s (LOW) rose by 13 percent last week to over $106 after beating on earnings, revenue, and same store sales, while holding firm on its guidance for the fiscal year.
LOW is now early in the rising phase of its current cycle, and as such, we see further upside potential.
Before the end of the year, we believe the stock could reach $118.
Thus even given our bearish view on the stock market, we believe that good stocks such as Lowe’s will do better on up days and not fall as much on down days.
For a more detailed analysis of both of these charts, check out the latest episode of the askSlim Market Week show.
Twitter: @askslim
Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
